Answer:
Mary Rose
Her quarterly premium for each of the last two quarters of last year is:
Quarter 3 = $365 and
Quarter 4 = $365.
Explanation:
a) Data and Calculations:
Annual premium last year = $1,640.00
Quarterly premium will be = $410 ($1,640/4)
Reduction in quarterly premium from the middle of the year = $45.00
Quarterly premium for each of the last two quarters of last year will be =
$365 ($410 - $45).
b) Quarterly premium is equal to annual premium divided by 4 (since there are four quarters in a year). The reduction in quarterly premium only affected the last two quarters. As a result, the quarterly premium for quarters three and four will be reduced to $365 ($410 - $45).
